Work in pairs.
Discuss:
· What arguments can you make for including savings deposits in a definition of money?
· What are the basic functions of commercial banks and thrift institutions?
Writing
Put each of the following words or phrases into its correct place in the text below.
| banks
| savings accounts
| investments
| earn
| coins
| value
|
| currency
| beads
| sell
| money
| exchange rate
| change
|
| goods
| depositing
| buy
| shells
| paper bills
|
|
Money
Money is what people use to … things. People spend money on … and services. Many people save part of their money by … it in a bank. People … money by performing services. They also earn money from … , including government bonds, and from … . … can be anything that people agree to accept in exchange for the things they … or the work they do. Ancient people used such varied things as … , … , and cattle as money. Today, most nations use metal coins and … . Different countries’ … and bills look different and have different names.
A person can … his money for the money of any country according to the … . Usually, such rates are set by the central … of a country. The … of a country’s … may change, depending on the economic and political conditions in that country.
Reading
1.Read text 22 using your dictionary to help with new words.
TEXT 22
